Tauriga Sciences, Inc. Files Its Third Fiscal Quarter 2016 Form 10Q and Continues to Report Meaningful Progress on Multiple Fronts
NEW YORK, NY–(Marketwired – Aug 10, 2016) – Tauriga Sciences, Inc. (OTC PINK: TAUG) (“Tauriga” or the “Company”), a life sciences technology Company, today announced that it has filed its Form 10-Q for the quarterly period ended December 31, 2015 with the Securities and Exchange Commission (the “SEC”). The Company is working expeditiously to complete and file its Form 10-K for the year ended March 31, 2016 with the SEC. Once this is complete, the Company will still be required to file its Form 10-Q for the quarterly period June 30, 2016 to be deemed fully reporting under SEC regulations.
The Company also has started the process of assembling its final damages report, inclusive of the opinions independent experts when deemed necessary. This damages report includes all of the out of pocket cash losses as well as the tangential business related damages suffered by Tauriga and its shareholders as a direct result of the malpractice and subsequent conduct committed by Cowan Gunteski & Co. P.A. (“Cowan Gunteski”) during Fiscal Years 2014 & 2015. The Company expects that its damages sought against Cowan Gunteski, in its ongoing litigation, will exceed $4,000,000 USD and that number continues to grow on a daily basis. Currently the Trial is scheduled for the date of January 23, 2017 in West Palm Beach, Florida pending the anticipated ruling on Jurisdiction by Federal Judge Robin Rosenberg.
Lastly the Company continues to evaluate several potentially intriguing business opportunities (merger and acquisition opportunities). In order to consummate a transaction, the Company expects that it will first have to regain its status as a fully reporting U.S. public Company.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Tauriga’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which Tauriga has little or no control. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by Tauriga with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.